Dangote refinery cut petrol price by 0.0195 per liter, lowering Nigerias pump price to 0.534 amid global crude price drops.
The 20 billion refinery processes 500,000 barrels daily, aiming for 700,000 barrels by late 2025, reducing Nigerias fuel import reliance.
Aliko Dangotes net worth rose to 29.3 billion as his refinery boosts Nigerias energy independence and Africas industrial growth.
Aliko Dangote, Africas richest man, has once again lowered petrol prices in Nigeria, providing some relief to millions of consumers. This comes amid favorable shifts in the global energy market and a notable drop in international crude oil prices.
On Aug. 12, Dangote Petroleum Refinery announced a 3.3 percent cut in the ex-depot price of Premium Motor Spirit PMS, or petrol, reducing it by N30 0.0195 from N850 0.553 to N820 0.534 per liter. Since the start of 2025, petrol prices have dropped nearly 14 percent, from N950 0.618 to N820 0.534.
Dangote cuts Nigerias fuel importsDangote Group, one of Africas largest manufacturing companies, Aliko Dangote is helping Nigeria reduce its long-standing dependence on imported fuel. This shift is reshaping Africas fuel market, South Africa recently overtook Nigeria as the continents largest fuel importer.